A COST ESTIMATING RELATIONSHIP FOR PETROLEUM-OIL-LUBRICANTS COSTS.
AIR FORCE INST OF TECH WRIGHT-PATTERSON AFB OHIO SCHOOL OF ENGINEERING
Pagination or Media Count:
One method of cost estimation is by the use of cost estimating relationships. A cost estimating relationship is an equation, with one dependent variable and one or more independent variables. The independent variables are usually characteristics of the system for which the estimate is made. A cost estimating relationship was needed for average fuel and oil costs per flying hour for jet fighter type aircraft. Two suitable cost estimating relationships were derived through regression analysis using data for nine different jet fighter aircraft. Linear, curvilinear, and multiple regression analyses were used with two linear relationships being selected. These relationships are X sub 1 10.51 .00189X sub 2 with X sub 2 being take-off weight--basic mission and X sub 1 21.99 .00461X sub 2 with X sub 2 being military thrust. Tests for correlation and prediction interval yielded satisfactory results. The estimating relationships have limitations on their use for aircraft with very high take -off weight or very high thrust. The estimate obtained from the relationship must be adjusted for differences in fuel and oil prices from January 1964 prices. Further research is needed in this cost estimating area. Author
- Economics and Cost Analysis
- Operations Research